Jeera February contract gained Rs 195 and settled at Rs 14761 a kg on value buying supported by a delay in fresh arrivals due to late sowing and depleting stocks. Unseasonal rains and cloudy weather had delayed jeera sowing in India by a fortnight. Any sharp movement is unlikely because poor export demand is expected to weigh on sentiment after every rise. In India, jeera is cultivated during winter from October to December, and harvested in February-April. In Unjha, a key spot market in Gujarat, jeera dropped -7.65 rupees to end at 14681.25 rupees per 100 kg. The contract made intraday low of Rs 14495 a kg and high of Rs 14781 a kg. Support for jeera is at 14577 below that could see a test of 14393. Resistance is now seen at 14863 above that could see a resistance of 14965.

Trading Ideas:

Jeera trading range is 14372-14944.

Jeera ended firm on value buying supported by a delay in fresh arrivals

Jeera is having resistance at 14863 and support at 14577 level.

NCDEX accredited warehouses jeera stocks rose 147 tonnes to 6217 tonnes.

SELL JEERA FEB @ 14850-900 SL 15060 TGT 14680-14560-14450-14320.NCDEX

In Unjha, a key spot market in Gujarat, jeera dropped -7.65 rupees to end at 14681.25 rupees per 100 kg.